According to Radrizzani, he plans to purchase 50 per cent of Cellino's stake this season and retain an option to buy out the former Cagliari owner next summer.

He told the Straits Times: "Massimo has 100 per cent now and if I do the deal, I will enter the club during this season with 50 per cent and have the option to buy him out completely in June next summer."

It had been suggested that Radrizzani's takeover of Leeds may be backed in some way by China, after Chinese financial services company, Everbright Securities, and Internet entertainment firm, Beijing Baofeng Technology, acquired a 65 per cent stake in the Italian's sports rights firm, MP & Silva.

Radrizzani, however, has denied this would be the case.

He said: "This deal does not involve any Chinese parties at all... I will eventually bring my team and management but I will speak more about my project and plan once this is finalised."

Radrizzani described Leeds, who are fifth in this season's Championship, as "exciting", adding: "They are a sleeping giant as everyone knows. Probably the only big brand left in English football that could grow in terms of value."